The Regulations from the Executive in Need of Scrutiny (REINS) Act helps enhance Congress’ role as the body that makes new laws, and increases accountability over federal agencies.
Under the REINS Act, all ‘major rules’ – regulations with an annual economic impact of $100 million or more – would have to be voted on by Congress before being enacted, giving the legislative branch an important check over agencies who too often enact burdensome regulatory regimes where benefits do not outweigh the dramatic costs.
Although the Trump Administration has made regulatory reform a priority and has reduced these costs, future administrations may return to the regulatory onslaught and executive overreach into state power that was seen under the Obama administration. Burdensome regulations passed during the Obama administration are estimated to have cost the economy $4 trillion dollars or $33,035 per household just in one year.
By strengthening Congressional oversight in the regulatory process, states and their citizens are given a louder voice in regulatory rule-making. Through more accountability in the enactment of new regulation, the intentions, and decisions of unelected bureaucrats is diminished while reinforcing individual liberty now and into the future.
The REINS Act passed the House of Representatives in 2017, but has not passed in the Senate.
While the executive overreach and massive regulatory costs from federal agencies have slowed for now, it is imperative that the Senate act to make these reforms permanent – we need to pass the REINS Act today.